Growth in Germany's manufacturing and services sectors slowed in February, surveys showed on Wednesday, clouding recent optimism about the resilience of Europe's bulwark economy to the crisis hammering its euro zone peers.

Markit's manufacturing Purchasing Mangers Index (PMI) fell to 50.1 from January's 51.0, according to a flash estimate, barely above the 50 mark which separates contraction from expansion, and tempering hopes of a rebound after output grew for the first time since September at the start of the year.

The reading thwarted expectations for an increase to 51.5 shown in a Reuters poll.

"The export trend has weakened and new orders have fallen for the eighth month, so although output is increasing this is fuelled by backlogs rather than new orders," said Markit economist Chris Williamson.

"The sector is holding capacity at existing levels in the hope that things will improve in the coming months, and if not there will have to be cut backs." A companion survey showed the pace of growth in the services sector slowed for the first time in three months, as the index declined to 52.6 from 53.7, despite an increase in new business.

It also undershot the consensus forecast of 53.9 in a Reuters poll.

The PMI's composite index, a combined measure of services and industry, fell to 52.9 from 53.9, while the composite PMI jobs index slid to 51.7, the lowest reading since March 2010, from 52.9 in January.

Even so, "the fact that the composite reading only dropped marginally is reassuring.

Germany has seen robust growth over the year, a sign it will avoid a double dip recession," Williamson said.

Germany's export-driven economy contracted in the last quarter of 2011 as the debt crisis spread from Greece to key euro zone trading partners, but the closely-watched Ifo index and other surveys showed conditions turning around in January.

Many economists expect the economy will stagnate in the first quarter of 2012, dodging the two quarters of negative growth which define a recession, before recovering from the second quarter onwards.

Source CNBC, Reuters